Steemit's REAL Diabolical Plan For WORLD DOMINATION - Part 1
In the following video I explain how Steemit is much more than a social network, it's the most efficient economic system in the history of the world. All of this is pure conjecture :)
Here is the diagram from the video
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Three thumbs up!!!!!!!
I agree! It is hard not to get unbelievably excited about this system. I haven't been getting anything else done except working on this.
Haha welcome to the club
I just wrote another post about how smart people are on this platform. I sighted you and also embedded your video lower in the post. Thanks! https://steemit.com/steem/@brianphobos/steemit-has-the-smartest-people-on-social-media-100-proof-inside
Hi Andrew, thanks for the great video. You do a great job of highlighting the interesting properties of the Steem economic system and why it is an innovation on traditional financial systems.
It would be great to also note that Steem has a number of failure modes that could cause the system to underperform or even fail. It's important to keep such risks in mind, especially in the world of cryptofinance. Some failure modes to watch out for:
Another comment: While Steemit is indeed in principle a system which assigns power proportionally to productivity, remember that in practice people with high buying power can simply buy political power in Steem.
I'm sure all of these are valid concerns, but we have a community of thousands who are interested in acknowledging flaws and creating fixes. If these are, in fact, flaws you could become a millionaire proposing solutions.
SP is just a share of a company. At some point (but not from the start), each company has to earn money to compensate the costs (like costs of employees - authors, curators, etc). At some point Steemit would have to have business model, which could compensate this 5% of inflation. This could be ads, special promotion content, even some fancy layouts for Steemit profiles. There will be a lot of possibilities.
Ignoring two critical points. 1. Growth of the Steemit population. If population of steemit more than doubles every year, demand for steem will outpace inflation. In truth, population growth of over 10% would probably be sufficient as only 10% of new money created goes into liquid money. 2. If products and services created by steemit population increase demand for Steem by more than 10% also negates growth of money supply. I suspect that for at least a few years, demand for steem will greatly outstrip money creation without the need for ads. Strongly doubt that ads will ever be used as revenue generating for Steemit, Inc. Users may allow others to advertise on their blog, but steemit won't need it. If it does, this enterprise likely has failed. This is about increasing demand for the underlying crypto: steem, which everyone at Steemit has a great deal of.
Haha, the end got me like
Good job!
Great, now I have to watch that movie again.
LOL
AHAHAHAHAHAHA
Fanfuckingtastic. Always love your videos, man. Keep it up.
Thanks, truly the same to you. Great to be on this journey "together" :)
Similar to SP, SMD tokens cannot be purchased directly on an external exchange. SMD are primarily earned through contributing but can be purchased by converting STEEM tokens to SMD tokens.
Actually Steem Dollars can now purchased on external exchanges !
https://poloniex.com/exchange#btc_sbd
https://bittrex.com/Market/Index?MarketName=BTC-SBD
PS Abbreviation of SBD = Steem Backed Dollars
or just SD = Steem Dollars (not SMD please edit)
Steem's usefulness isn't quite limited to the Steemit ecosystem... we accept it for real estate at Fort Galt :)
UGH, apologies for the error.
The REAL Diabolocial part of this video is that the cat is controlling it all.
Shhhhhhh. - The Cat
Le chat... XD
More goodness to come out of it and we aren't yet aware of it coming. I sure hope Bitshares will get its proper exposure as well through this whole process of exposure of cryptos... Thanks for sharing, namaste :)
That is the beauty of economic systems, anything can come out of them.
A lot of Steemit came out of the lesson learned from Bitshares.
Cat. ^_^